Andrew Hayes is a Partner in FRA’s New York office and has over 30 years of forensic accounting, external audit, and buy-side investment expertise. He has extensive experience providing forensic dispute and investigative services, analyzing financial statements and complex accounting issues, financial modeling and forecasting, and investment due diligence. His experience extends across a range of industries, including technology, telecommunications, engineering & construction, transportation, publishing, agriculture, utilities, manufacturing, pharmaceuticals, retail, REITs, and financial services.

Andrew’s disputes, litigation, and investigations experience includes:

• Managing a $6 billion transfer pricing litigation engagement for a multinational pharmaceuticals company, including preparing product line profit and loss and other financial statements spanning 30 years and assisting in negotiations with the IRS regarding a financial records stipulation agreement
• Preparing an expert report in connection with an income tax dispute involving the structure and characterization of a complex reorganization of a client in the publishing industry, opining on the application of consolidation and equity accounting methods and SEC reporting requirements
• Identifying accounting irregularities and fraudulent activity at a truck manufacturer and assisting the company with restating its internal financial reports
• Investigating shareholder allegations of improper revenue recognition practices at a major internet and networking products manufacturer
• Performing a solvency analysis of a retail company in connection with a fraudulent conveyance case and providing opinions to counsel regarding various GAAP issues and bond indenture covenants
• Developing a complex pro forma financial model for a group of northeast U.S. electric utilities analyzing the impact of a proposed restructuring of electric transmission markets and entities

Prior to joining FRA, Andrew was an investment analyst at Perbak Capital, responsible for identifying, analyzing, and monitoring investments across various sectors. Before Perbak, Andrew was the Head of Forensic Research at Citadel, where he managed a team of analysts providing in-depth accounting and financial reporting research and analysis regarding U.S. GAAP, IFRS, SEC, and tax issues. Andrew also served as a Director in Huron Consulting Group’s Financial and Economic Consulting practice, where he conducted various disputes, litigation and investigations engagements.

Andrew is a member of Chartered Accountants Australia and New Zealand, is a CFA Charterholder, and holds a Bachelor of Business in Accounting from the University of Technology Sydney.